Walmart slashes AT&T iPhone 4 and iPhone 4S prices [updated]

Walmart has evidently dropped its prices on the AT&T iPhone 4 and iPhone 4S in select retail stores, according to Cult Of Mac. Without rhyme or reason, the price of the 8GB iPhone 4 on AT&T has dropped from $88 to $34, and the 16GB iPhone 4S is now being offered for only $114, down from the original list price of $188. The new prices apply to any AT&T customers, whether they are new activations or upgrades. Unfortunately, pricing on Verizon and Sprint iPhone models has not been lowered. Walmart previously reduced the price of the iPhone 4 one month before the iPhone 4S was announced in October, and that was the last major price drop we saw. Reports have surfaced that the next-generation iPhone could be announced in June, though our sources have indicated otherwise.

UPDATE: Walmart confirmed to 9to5Mac that the retail chain “experienced a pricing error in limited stores” yesterday and prices have now returned to their original amounts.